IL&FS Transportation Networks LimitedAnalyst Presentation – May 2016
May 13, 2016CIN - L45203MH2000PLC129790
Disclaimer
This presentation has been prepared solely by IL&FS Transportation Networks Limited (“ITNL”) and does not constitute a prospectus or placementmemorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered orsupplied does not and should not be deemed to constitute an offer.
No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctnessof such information or opinions contained herein. The information contained in this presentation is only current as of its date. Certain statements made inthis presentation may not be based on actual historical information or facts, and may be “forward looking statements”, including without limitation thoserelating to the general business plans and strategy of ITNL, its future financial condition and growth prospects, future developments in its industry and itscompetitive and regulatory environment, and any other statements which contain words or phrases such as ‘will’, ‘expected to’, ‘horizons of growth’,‘strong growth prospects’, etc., or similar expressions or variations of such expressions. These forward-looking statements involve a number of risks,uncertainties and other factors that could cause actual results, opportunities and growth potential to differ materially from those suggested by theforward-looking statements. These risks and uncertainties include, but are not limited to risks with respect to ITNL’s growth, business and the industrythat it operates within.
ITNL reserves the right to alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person ofsuch revision or changes. This presentation cannot be copied and disseminated in any manner.
With references to projects and project companies, short names and brief descriptions are used which may not be representative of the actualdescription of the project or the name of the project company. These are used for brevity in the presentation and any person accessing such informationmay get further details of such project or project companies from other data available on the website of the company or other publicly available data
No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given ormade, such information or representation must not be relied upon as having been authorized by or on behalf of ITNL
In this presentation…
� Company Overview
� Key Competitive Strengths
� Segment Overview
� Portfolio – Road Projects
� Portfolio – Metro Rail & Border Check Post
� Road Sector Opportunity
� Project Pipeline
� Financial Performance Parameters
� Key Quarterly Financial Parameters
� Capital Works Remaining to be Executed
� Toll and Annuity Collection on Operational Projects
� IL&FS – Strong Parentage
� Board of Directors
� Road Projects
� Glossary
1
Company Overview§ IL&FS Transportation Networks Limited (ITNL) is a leading surface
transportation infrastructure company and the largest private sector BoT road operator (in terms of lane kilometer) in India*
§ ITNL has a pan India presence with projects in several states in India
§ Promoted by Infrastructure Leasing and Financial Services Limited (IL&FS) in the year 2000
§ ITNL has 14,680 lane km under its road assets portfolio comprising a mix of Toll & Annuity based projects
§ ITNL has an total order book of INR 14,625 Crores
§ Has presence in other sub sectors viz. mass rapid transport system, urban transportation infra system, car parking and border check post systems
§ ITNL’s International operations are primarily in the road segment and spread across Spain, Portugal, Latin America, UAE and China
ShareholdingPattern
PAN India presence with 31 BoT projects in
several States
Maharashtra
Karnataka
AP
Gujarat
RajasthanUttar Pradesh
Maharashtra
Karnataka
Kerala
Andhra Pradesh
Gujarat Jharkhand
Haryana
Map not to scaleDoes not depict political boundaries
Orissa
Jammu & Kashmir
Madhya Pradesh
HP
2
(May 06, 2016)
* ICRA Report
IL&FS GROUP73.22%Foreign
Portfolio Investor ( Corporate )
2.21%
Foreign Inst . Investor &
Foreign Company8.50%
Mutual Funds0.41%
Others15.66%
Key Competitive Strengths
Market Leadership in the surface transportation infrastructure sector backed by expansion into new sub sectors
• With around 14,680 lane kms spread over 31 projects in our road assets portfolio • Operational portfolio of 10,176 lane kms of highways from 22 projects• Forays into other surface transportation sub-sectors like metro rail, City Bus Services & border check-post
Strong Parentage of IL&FS & Experienced Management Team• IL&FS brand and expertise in finance & other infrastructure areas with track record of over 25 years• Experience in working with various Central & State Government and other Authorities• Experienced management team with operational expertise of over 20 Years
Partnerships and Bilateral contracts with State Governments• State Highway Concessions in joint venture with various State Governments
Diversified and de-risked road project portfolio with projects in different stages of Development, Construction, Operation & Maintenance
• Pan India presence with a diverse mix of annuity and toll concessions• Presence in Europe, Latin America through Elsamex SA• Operational road project in China
3
Segment Overview
Notes:1 Includes beneficial ownership2 All stakes include direct and indirect ownerships (as of March 31, 2016)Kindly refer glossary for acronym details
Urban Transport Projects
NKEL (93.5%1)
TRDCL (50%)
APEL (100%1)
HREL (99.99%)
CNTL (100%)
JSEL (50%)
EHEL (74%)
JRPPICL (100%1) WCBTRL (35%)
NAMEL (50%)
GRICL (41.8%)
NTBCL (25.35%)
WGEL (74%)
IRIDCL (100%)
Ramky Elsamex Hyderabad Ring Road Limited(26%)
PSRDCL (90.91%)
RIDCOR (50%1)
MBEL (100%)
VNIL (90%)
RMGL (42%)
Chongqing Yuhe Expressway Company Limited(49%)
Sociedad Concesionaria Autovía A-4 Madrid S.A
(48.75%)
Charminar RoboPark Limited(89.20%)
KNCL (100%)
Annuity Projects Toll Projects
SBHL (100%)
BKEL (100%)
MPBCDCL (74%)
4
RMGSL (86%)
KSEL (100%)
BAEL (100%)
4
SSTL (49%)
Karyavottam Sports Facility (100%)
JIICL (100%)
ACEL (100%)
FSEL (100%)
Gujrat ROB (100%)
Portfolio: Road Projects
5
ITNL is one of the largest* Private Sector BOT Road operator in India
# Partly commissioned ^ The operational project was acquired in Dec, 2011
Khed Sinnar
5• As per ICRA Report – Aug 2015; ** Received Provisional Completion Certificate as on January 02, 2014 @Appointed date / Financial closure yet to be finalised. • @@ SPV formation / Appointed Date / Financial closure pending $ Have received PCC as on October 10, 2015
SSTL
0
3000
6000
9000
12000
Shillong Jorbat IRIDCL - II
Jharkhand Road Development-II #
Thiruvananthapuram City Roads-I
2001 2004 20052007 2009 2010 2013 Between 2016 to 2017201220082002 2011
Sikar Bikaner$
Kharagpur Baleshwar
Chenani Nashri
Kiratpur Ner
Chowk
Chandrapur Warora
Ranchi Hazaribagh
Narketpally Addanki**
Moradabad Bareilly
Jharkhand Road Development-I#
TRDCL - II#
RIDCOR –II#
YuHe expresswayChina^
RIDCOR- IAP
Expressway
Hyderabad Outer Ring Road
Beawar Gomti
Ramky Elsamex HyderabadRing Road
A-4 Autovia,Spain
Vadodara Halol
Noida Toll Bridge
Ahmedabad Mehsana Road
North Karnataka
Expressway
West Gujarat Expressway
Leng
th in
Lane
km
Commissioned
Financial Years in which Commissioned /Expected to be Commissioned
Under Development/Implementation
• Diverse BOT portfolio of 31 road projects covering 14,680 lane km spread across several states in India
• Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development
Pune Sholapur
RIDCOR III
2014
Barwa Adda Panagarh
2015 Beyond
2017
ACEL@@FGEL@@
RRR II@
GRBDC@ (ROB)
Portfolio: Metro Rail & Border Check Post
Gurgaon MetroRail Link:
n Awarded by Haryana Urban Development Authority (HUDA) through Concession Agreement dated December 09, 2009
n Metro link from Delhi metro Sikanderpur station to NH-8 in Gurgaon – around 4.9 km
n Concession period of 99 years
n Started Commercial Operations on 14th November 2013
Rapid MetroRail Project (South Extension) :§ Metro link from Rapid Metro Sikanderpur station to
Sector 56 in Gurgaon along the Golf Course road
§ Around 7 km long link within Gurgaon CBD
§ ITNL stake in the project ~85%
§ Concession Agreement was signed on January 03, 2013, for a period of 98 years including initial construction period of two and half years.
6
MP Border Check Post Project – awarded by Madhya Pradesh Road Development Corporation Limitedn ITNL stake 74%, 24 border check-post in MP to be developed and 2 central control facilitiesn Revenue sources – entry fee from commercial vehicles, parking fee, loading/unloading etc.n Similar to toll road concessions in the revenue collection formatn Concession period of 4,566 days including initial construction period of 730 days n 19 Check post & 2 central control facilities are currently operational.
Road Sector Opportunity
7
~13,373 km of awards pending under NHDP – to be substantially executed under PPP
Program To be awarded (in Km)
NHDP-III 1,747
NHDP-IV 6,495
NHDP-V 3,380
Total 11,622
NHDP Overall Progress
• India’s road network increased to 4.2 million km from 3.3million km
• The 13th Finance Commission has decided to provide a centralgrant of INR 199.30 billion over the period 2011 -15 fordevelopment of state roads across the country. This is inaddition to the normal expenditure that is undertaken
• National highways, which comprise 2% of the total network,carry 40% of the traffic; are overloaded at many places orcorridors
• Only ~24% of national highways are four-laned
Composition of the Indian Road Sector – (‘000 kms)
Source: www.nhai.org accessed on February 29, 2016
79131
2,650
467
National Highways State HighwaysRural and other roads Major and other district roads
Footnote: Data given in point 2 is from 13th Finance Commission
5846
7142
11809
13203
6500
1000
700
435
5846
6863
9615
5793
3681
0
41
1
0 5000 10000 15000 20000
I
II
III
IV
V
VI
VII
PC*
Completed/Under Imp (km) Total Length (km)* Port Connectivity
Project Pipeline
BID PIPELINE
RFP Stage (Post Qualification) RFQ Stage (Pre Qualification)
Projects Length (km) Cost (INR Cr) Projects Length (km) Cost (INR Cr)
NHAI 19 1,119 17,253 7 576 7,248
States 2 227 749 7 638 9,350
MORTH / MOR 1 34 561 1 67 706
Total 22 1,380 18,563 15 1,281 17,304
As on March 31, 2016
8
Financial Parameters (Consolidated)
(INR Cr)
1. Includes other income and includes gain from Foreign exchange fluctuation2. RoE based on average equity; 3. RoCE based on average capital employed;
RoCE (%)RoE (%)
Revenue EBITDA(1)
Average Capital Employed(3)Profit After Tax(2)
9
(INR Cr)
(INR Cr)(INR Cr)
-
2,000
4,000
6,000
8,000
10,000
FY12 FY13 FY14 FY15 FY16
5,7296,786 6,803 6,501
8,264
-
2,000
4,000
6,000
8,000
10,000
FY12 FY13 FY14 FY15 FY16
1,589 1,982 2,111 2,4663,235
497 520 465 444
31220%
16%10% 8%
5%
0%
10%
20%
30%
40%
50%
-
200
400
600
800
1,000
FY12 FY13 FY14 FY15 FY16
10,312
15,494
21,738
26,527
31,824
14%12% 9% 9% 9%
0%
10%
20%
30%
40%
50%
-
5,000
10,000
15,000
20,000
25,000
30,000
35,000
FY12 FY13 FY14 FY15 FY16
Revenue
Financial Parameters (Standalone)EBITDA(1)
Average Capital Employed(3)
(INR Cr)(INR Cr)
(INR Cr)
RoCE (%)RoE (%)
1. Includes other income and including gain from Foreign exchange fluctuation2. RoE based on average equity; 3. RoCE based on average capital employed;
(INR Cr)
Profit After Tax(2)
10
19%
-
1,000
2,000
3,000
4,000
5,000
FY12 FY13 FY14 FY15 FY16
2,910
3,566 3,672 3,523
4,762
-
1,000
2,000
3,000
4,000
5,000
FY12 FY13 FY14 FY15 FY16
690 843 854 1,132 1,367
252 271 266319
173
0%
10%
20%
30%
40%
50%
-
100
200
300
400
500
FY12 FY13 FY14 FY15 FY16
13%10%
4%
10%14%
4,174 5,267
6,7959,312
12,198
16%16% 12%12% 11%
0%
10%
20%
30%
40%
50%
-
2,000
4,000
6,000
8,000
10,000
12,000
14,000
FY12 FY13 FY14 FY15 FY16
Profit & Loss Accounts Highlights(All figures in INR Crore)
*In consolidated results, as per the relevant accounting policy, annuity projects are treated as financial assets and shown as non current receivable in the balance sheet. Hence interest during construction on annuity projects is charged to P&L unlike for toll projects where it is capitalized
Key ParametersConsolidated Standalone
FY16 FY15 % Change FY16 FY15 % ChangeRevenue 8,264 6,501 27.12% 4762 3,523 35%
Other Income 468 327 43% 500 359 39%
EBITDA 3,235 2,466 31.21% 1,367 1,132 21%
EBITDA Margin 37% 36% 26% 29%
Interest* 2,531 1,833 38.06% 1,102 738 49%
Depreciation 275 152 81.03% 15 10 50%
Profit Before Tax 429 481 -10.70% 251 384 -35%
PAT after minority interest 312 444 -29.77% 173 319 -46%
12
Consolidated Results: Absolute EBITDA during the year has increased by 31.2% due to a 27% increase in revenues on the back of increased construction and CODs being achieved for various SPVs
Standalone Results: Standalone PAT is down 45% due to a 49% increase in interest cost. The interest increase is primarily on the back of higher borrowing compared to last year. Average borrowing for the year increased to INR 8,214 crs from INR 6,032 crs in FY15
11
Standalone Revenue & ExpensesRevenue Expenses
(in INR Crore)(in INR Crore)
1412
• Total income for the full year FY 16 increased by 35% (yoy basis) onaccount of 48% increase in O&M income, 42% increase each inconstruction income and supervision and engineering fee
• O&M Income has increased due to overlay activities undertaken inAPEL, NKEL and SBHL
• Fee during the year was booked from ACEL, FSEL, JIICL and SSTL amongfew others
• Other Income has increased by 39% on account of interest income onloans to SPVs
• For the full year FY 2016, EBITDA margins decreased to 26% (vs 29%for FY 2015) and EBITDA margins for Q4FY16 has increased to 23%compared to 21% in Q4FY2015. During the year margins were lowdue to higher operating expenses, on account of increasedconstruction. In addition, overlay has been done in APEL and NKELand O&M has commenced on MBEL and BAEL – 2 laning
• Provision of INR 115 crs has been towards doubtful loans andreceivables
• As per the new Companies Act, we have shifted from WDV to SLMmethod of depreciation
2,064 1,791
2,6743,589
1,124 391522
3,663 1,346 1,680
-
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
FY15 FY16 Q4FY15 Q4FY16
2,7293,864
6421,334
366
519
39
124
Constr Income Fee Income O&M Income Other Operating Revenue Other
-
1,000.00
2,000.00
3,000.00
4,000.00
5,000.00
6,000.00
FY15 FY16 Q4FY15 Q4FY16
2,3363,311
579 1,108
Construction Cost Other Operating Expenses Employees cost Admin & General Exp
• For FY16, the overall EBITDA margins have been flattish at 37%. Onan absolute basis, EBITDA increased by 31% to INR 3,235 crores ascompared to FY15
• During the current financial year, construction cost has increased byINR 902 crores to INR 3,501 crores due to an increase in constructionactivities in CNTL, RMGSL, BAEL and KSEL among others
• We have received COD for an 5 additional check post this year. Wenow have 19 operational check posts in MPBCDCL and 2 CCU’soperational as on date
• For the full year FY16, total revenue from operations has increased by27% as compared to the corresponding period last year. Toll/Annuity &Construction income has increased by 49% and 37% respectively
• During the year we have capitalised some projects namely MBEL,PSRDCL, BKEL and NAMEL
• During the year preconstruction activity fee was booked for AECL, FSELand JIICL
• We have received COD for BKEL, PSRDCL and PCC for SBHL and JSELduring the current financial year
Consolidated Revenue & ExpensesRevenue Expenses
(in INR Crore)(in INR Crore)
13
1,441
3,2741,973
4,222
7,771
4,5915,272
3,551 -
2,000.00
4,000.00
6,000.00
8,000.00
FY15 FY15 Q4FY15 Q4FY15
3,7185,079
7671,785
1,228
1,180
354
302
1,247.40
1,577.22
304.00
456.68
Constr Income Elsamex Toll/Annuity Other Other Operating Revenue
-
2,000.00
4,000.00
6,000.00
8,000.00
FY15 FY16 Q4FY15 Q4FY16
2,5993,501
561 1,248
Construction Cost Other Operating Expenses Employees cost Admin & General Exp
Debt Equity Analysis
Standalone Consolidated
(in INR Crore)(in INR Crore)
1614
Incremental Equity Commitment for existing projects* is INR 1,407 CroreTotal Investments made till 31-March-16 (including advance against equity) is INR 5,209 Crore
We have successfully closed our Rights Issue offering and raised INR 740 Crore**
• We witnessed a 3% quarter on quarter increase in debt at theconsolidated level which was primarily on account of drawdown ofalready sanctioned debt on projects under construction
• Debt Equity currently stands at 4.13x as compared to 4.02x in theprevious quarter
• The Debt Equity at the standalone level has remained flattish around2.09 times
• The standalone debt is mostly unsecured debt for on-lending to SPVs assub-debt or for equity infusion into projects against cash accrualsexpected from them
* This includes 4 newly acquired projects & as per Common Loan Agreement;**The Issue closed on October 29, 2015 and is reflected in Q3FY16 results
3,591 3,640 4,381 4,389
8,052 8,430 8,873 8,988 2.24 2.32 2.09
0.50
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
-
5,000
10,000
15,000
20,000
25,000
30,000
Q1FY16 Q2FY16 Q3FY16 Q4FY16
Networth Debt Debt-Equity
2.03
5,787 5,851 6,683 6,773
24,83226,213 26,863 27,643
4.29 4.48 4.02
4.13
1.00
1.50
2.00
2.50
3.00
3.50
4.00
4.50
5.00
-
5,000
10,000
15,000
20,000
25,000
30,000
Q1FY16 Q2FY16 Q3FY16 Q4FY16
Networth Debt Debt-Equity
ITNL’s Order Book: Composition & Spread
16
Order book – Geographic Spread
Total order book of INR 14,625 Crs
Rajasthan7.35%
Maharashtra35.79%
Kerala0.02%
Andhra Pradesh/ Telangana0.43%
Jharkhand & W.Bengal13.43%
Haryana5.01%
Jammu & Kashmir26.14%
Himachal Pradesh8.63%
Madhya Pradesh1.21%
Meghalaya0.27%
Gujarat1.72%
NHAI
Non- NHAI
Non RoadProjects
60%
7%
33%
Order book details as of March 31, 2016 : Order Book includes recently awarded projects
Road- Annuity
Road- Toll
Non Road
31%
7%
62%
Order book – Sourcing
Order book – Project Type
15
Revenue Collection on Operational Road ProjectsNot adjusted for ITNL’s stake
Operational Annuity Projects Annuity receivable Per Annum Accrued in Q4FY16Maharashtra Border to Belgaum (Karnataka) 101 25Thirvananthapuram City Roads (Ph-I) (Kerala) 38 8Kotakatta to Kurnool (Andhra Pradesh) 113 28East Hyderabad Expressway Limited 67 17Hazaribaugh Ranchi Expressway Limited 128 32Jharkhand Road Project Implementation Company LTD 349 87Jorabat Shillong Expressway Limited 73 26
Toll Projects under Operation Average Daily Toll Collection
In Q1 FY 16 In Q2 FY 16 In Q3 FY 16 In Q4 FY 16Ahmedabad Mehsana Road (Gujarat) 0.23 0.23 0.23 0.26Vadodra Halol Road (Gujarat) 0.11 0.11 0.11 0.13Noida Toll Bridge (UP) 0.30 0.30 0.31 0.30Mega Highways – Rajasthan 0.52 0.52 0.66 0.74Mega Highways – Rajasthan II 0.18 0.18 0.18 0.18Rajkot to Jetpur – Gondal (Gujarat) 0.15 0.13 0.16 0.15Beawer Gomti (Rajasthan) 0.07 0.07 0.08 0.08Yu He Expressway 1.31 1.37 1.26 1.50A4 Autovia (Spain) 0.32 0.32 0.31 0.34Baleshwar Kharagpur** 0.15 0.15 0.15 0.17Pune Solapur 0.22 0.21 0.22 0.27NAMEL 0.38 0.37 0.38 0.42Barwa Adda** 0.16 0.15 0.16 0.17Moradabad Bareilly 0.43 0.38*** 0.52 0.52Warora Chandrapur 0.11 0.11 0.10 0.10Sikar Bikaner 0.08 0.09
Total Gross Average Daily Collection from toll and annuity in Q4FY16 has been around INR 7.9 CroreFlattish toll collection due to monsoon affecting traffic movement on these stretches ** Projects are under Construction ***Diversion of Traffic due to Kawad Yatra
(All figures in INR Cr)
16
BOT Toll Revenue Growth
Sr.No Name of the Project Toll Revenue start date 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 2015-16
1 Ahmedabad Mehsana Road (Gujarat) Feb-03
75 85 104 107 108 120 1292 Vadodra Halol Road (Gujarat) Oct-00
3 Noida Toll Bridge (UP) Feb-01 71 70 77 89 99 104 112
4 Mega Highways - Rajasthan (Ph - I) Mar-08 83 106 155 166 184 189 223
5 Mega Highways - Rajasthan (Ph - II) Oct-11 NA NA 9 41 53 60 66
6 Rajkot to Jetpur - Gondal(Gujarat) May-08 31 34 38 46 48 53 54
7 Beawer Gomti (Rajasthan) Aug-10 NA 9 17 18 21 23 27
8 Baleshwar Kharagpur 43 47 57
9 Pune Solapur 37 71 84
10 NAMEL 9 145 142
11 Barwa Adda 45 59
12 Moradabad Bareilly 38 170
13 Warora Chandrapur 10 37
14 Sikar Bikaner 16
Total 260 304 400 467 602 905 1176
(INR in Crore)
17
IL&FS - Strong ParentageIL&FS Overview
Our Parent ShareholdingIL&FS Shareholding
§ Incorporated in 1987 as a JV between the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with public & private sector project sponsors– Offers a full range of financial, project development and management
services including investment banking, project financing, project development, management and implementation, asset management, corporate advisory and back office services through Group companies
– Identifies need-driven projects including roads, bridges, power, ports, water supply, area development which can be commercially viable and works on structural / financial solutions to enhance project viability
§ Has expertise across diverse sectors such as transportation, area development, cluster development, finance, power, ports, water and waste management, urban infrastructure, environment, education and tourism– Track record of promoting and financing public infrastructure projects
in India for over 25 years§ Strategic relations with Governments of 17 states across India and on-
going relationships with various departments of the Central Government – Benefits to ITNL in negotiating bilateral contracts with state and central
government entities when such bodies are seeking customized proposals
§ Incorporated in 1987 as a JV between the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with public & private sector project sponsors– Offers a full range of financial, project development and management
services including investment banking, project financing, project development, management and implementation, asset management, corporate advisory and back office services through Group companies
– Identifies need-driven projects including roads, bridges, power, ports, water supply, area development which can be commercially viable and works on structural / financial solutions to enhance project viability
§ Has expertise across diverse sectors such as transportation, area development, cluster development, finance, power, ports, water and waste management, urban infrastructure, environment, education and tourism– Track record of promoting and financing public infrastructure projects
in India for over 25 years§ Strategic relations with Governments of 17 states across India and on-
going relationships with various departments of the Central Government – Benefits to ITNL in negotiating bilateral contracts with state and central
government entities when such bodies are seeking customized proposals
2018
Life Insurance Corporation
of India25%
ORIX Corporation,
Japan23%
IL&FS Employees
Welfare Trust12%
Abu Dhabi Investment Authority
13%
HDFC9%
Central Bank of India
8%
State Bank of India6%
Others3%
Experienced Board of Directors
Name Designation / Background
Mr Deepak Dasgupta
Chairman; Former Chairman, NHAI
Mr RC Sinha Former Vice Chairman & MD, Maharashtra Airport Development Company Limited
Mr HP Jamdar Former Principal Secretary, Government of Gujarat
Mr Deepak Satwalekar
Former Managing Director, HDFC
Ms Neeru SinghFormer Indian Administrative Officer
Independent Directors Non-Independent Directors
Name Designation
Mr Ravi Parthasarthy Chairman, IL&FS
Mr Hari Sankaran Vice Chairman and MD, IL&FS
Mr Arun K Saha Joint Managing Director & CEO, IL&FS
Mr Vibhav Kapoor Group Chief Investment Officer, IL&FS
Mr Pradeep Puri Former Indian Administrative Officer
Mr K Ramchand Managing Director
Mr Mukund Sapre Executive Director
19
Key Managerial Personnel
• He has over 30 years of experience in the industry
• Has over 33 years of experience in various road construction projects
• He has over 32 years of experience in urban and transport infrastructure development sector
• He has over 28 years of experience in the industry
K. RamchandManaging Director
Mukund SapreExecutive Director
Harish MathurTechnical Director
Dilip BhatiaChief Financial Officer
S C MittalChief Executive
• He has over 30 years of experience in the industry. He is the compliance officer, legal adviser, Company Secretary and Head – Investor Relations
• He has over 24 years of experience in Finance, Operations, investor relations and Business development.
Krishna GhagVP & Company Secretary
20
Name of Project North Karnataka Expressway Limited (NKEL)
West Gujarat Expressway Limited (WGEL) Noida Toll Bridge (NTBCL) Vadodara Halol Toll Road
(GRICL)Ahmedabad - Mehsana
Road (GRICL)
Authority NHAI NHAI NOIDA Govt. of Gujarat Govt. of Gujarat
State Karnataka Gujarat Delhi & Noida Gujarat Gujarat
Concession Type Annuity Toll Toll Toll Toll
Project (Lane Km) 472 389 60 523
Project Cost (Rs Cr) 600 276 589 466
Debt Outstanding as atMarch 31, 2016 (Rs. Cr) (Long Term )
138 152 43 278
GRANT (Rs. Cr) - 18 (Premium) - -
Date of Commencement of Commercial Operation
July 19, 2004 March 17, 2008 Feb 07, 2001 Oct 24, 2000 Feb 20, 2003
Concession Period 17.5 years 20 Years 30 yrs (extendable) 30 yrs (extendable) 30 yrs (extendable)
Description 4 laning of the section of the Belgaum to Maharashtra Border on BOT (Annuity) basis
Widening / Improvement of the Rajkot – Jeptur -Gondal Section from 2 lane to 4 lane; on National Highway No. 8 B in state of Gujarat
Development of a toll bridge and approach roads connecting Delhi to NOIDA on BOT basis
Development of Vadodara Halol road SH 87 with service road in the state of Gujarat on BOOT Basis
Development of Ahmedabad Mehsana Road (SH-41 and 133) in the state of Gujarat on BOOT Basis
Projects Under Operation
21
Name of Project Andhra Pradesh Expressway (APEL)
Thiruvananthapuram City Roads (Phase I & II) (TRDCL)
Narketpally - Addanki (NAMEL) Mega Highways Project Rajasthan (RIDCOR) Phase I & II
Authority NHAI KRFB Govt. of Andhra Pradesh Govt. of Rajasthan
State Andhra Pradesh Kerala Andhra Pradesh RajasthanConcession Type Annuity Annuity Toll TollProject (Lane Km) 328 119.47 888 2705
Project Cost (Rs Cr) 863 360(Total TRDCL Cost)
1910 2255
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
490 122(Total TRDCL Debt)
1018 1941
GRANT (Rs. Cr) - - 467 2150 (Interest free loan from GOR)
Date of Commencement of Commercial Operation
Sept 30, 2009 Phase I - Nov 15, 2006Phase II - Feb 22. 2012
Provisional Completion Certificate – 2 Jan 2014
Various Dates
Concession Period 20 years 17.5 Years 24 years 32 Years
Description Kotakatta Bypass to Kurnool on NH-7 in the state of Andhra Pradesh under North South Corridor on BOT (Annuity) Basis
Thiruvananthapuram City Roads Improvement Project
4-Laning of Narketpally –Addanki – Medarametla Road (SH-2) in Andhra Pradesh on DBFOT (Toll) basis
Improvement of following project road stretches - Phalodi to Ramji ki Gol, Hanumangarh to Kishangarh, Alwar to Sikandra, Lalsot to Kota and Baran to Jhalawar of Phase I & Alwar to BhiwadiArjunsar to PalluHanumangarh to SangariaJhalawar to Jhalawar Road Khushkheda to Kasola Chowk of phase II
22
Projects Under Operation
Name of Project East Hyderabad Expressway Ltd (EHEL)
Jharkhand Accelerated Road Development Programme (JRPICL)
Hazaribagh Ranchi Expressway Limited (HREL)
Pune Sholapur Road Development Company
Limited (PSRDCL)
Authority HUDA GOJ NHAI NHAI
State Andhra Pradesh Jharkhand Jharkhand MaharashtraConcession Type Annuity Annuity Annuity TollProject (Lane Km) 173 664 319 571
Project Cost (Rs Cr) 472 2553 1132 1963
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
216 2136 618 1138
GRANT (Rs. Cr) 78 - - 285
Date of Commencement of Commercial Operation
March-2011 RRR- 21 September, 2012RPR I – 12 October, 2012
RPR II- April 2014AdityaPur Kandra – 31 Jan 2013
CKC – 31 March 2015
Aug- 2010 PCC on Aug 23, 2013COD on Feb 3, 2016
Concession Period 15 Years RRR- 17.5 YearRPR I – 17.5 YearRPR II – 17.5 Year
AdityaPur Kandra –15.75 YearCKC – 17.5 Year
18 Years 20 Years
Description 8 – Laning Outer Ring Road in Hyderabad from PeddaAmberpet to Bongulur on BOT (Annuity) basis
Improvement works of Jharkhand Roads- Ranchi Ring Road- Ranchi Patratu-Four Laning of Adityapur-Kandra-Improvement works of Patratu to RamgarhRoad- Two lanning of Chaibasa Kandra Chowka
4 laning of Hazaribagh –Ranchi Section Of NH-33 in State Of Jharkhand On BOT (Annuity) Basis
4 laning of Pune - Sholapur Section of NH-9 from in the state of Maharashtra under NHDP phase III on DBFOT basis.
23
Projects Under Operation
Name of Project Beawar Gomti Road (IRIDCL) Moradabad to Bareilly (MBEL) Chandrapur Warora (WCBTRL) Sikar Bikaner
Authority Department of Road Transportation and Highways, GOI
NHAI PWD, Maharashtra PWD, Rajasthan
State Rajasthan Uttar Pradesh Maharashtra Rajasthan
Concession Type Toll Toll Toll Toll
Project (Lane Km) 248 522 275 540
Project Cost (Rs Cr) 351 3066 689 901
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
304(For IRIDCL I & II)
1595 330 488
GRANT (Rs. Cr) 39 443 1763 2473
Date of Commencement of Commercial Operation
Oct-2009 Jan - 2015 Dec - 2014 Oct 2015
Concession Period 30 Years 25 years 30 years 25 years
Description Widening of 2-lane road to 2-lane + Paved Shoulder in Beawar– Gomti Section of NH- 8 in the State of Rajasthan on DBFOT (Toll) Basis
4 Laning Of Moradabad Bareilly Section in Uttar Pradesh
4 Laning of Warora ChandrapurBallarpur Bamni road in Maharashtra on DBFOT basis
Development and Operation of Two laning of Sikar Bikaner Section in Rajasthan
24
Projects Under Operation
Name of Project Jorabat Shillong(JSEL) Baleshwar Kharagpur Road (BKEL)
Authority NHAI NHAI
State Assam & Meghalaya West Bengal & Orissa
Concession Type Annuity Toll
Project (Lane Km) 262 477
Project Cost (Rs Cr) 824 660
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
740 493
GRANT (Rs. Cr) - 35 (Premium)
Date of Commencement of Commercial Operation Jan 2016
Concession Period 20 years 24 years
Description 4 Laning of Jorabat-Shillong (Barapani) section of NH-40 in Assam & Meghalaya on a DBFOT (Annuity) basis
Construction of New Structures & Repair of existing FourLane NH from Kharagpur to Baleshwar (NH-60) in Orissaand West Bengal on DBFOT (Toll) Basis
25
Projects Under Operation
Project Under Construction
Name of Project Thiruvananthapuram City Roads (Phase II & III) (TRDCL) Beawer Gomti (Additional) Chennani - Nashri (CNTL)
Authority KRFB MoRTH NHAI
State Kerala Rajasthan Jammu & Kashmir
BOT Type Annuity Toll Annuity
Project (Lane Km) 39 217 38
Project Cost (Rs Cr) Included in TRDCL Cost Above 1387 3720
Debt Outstanding as at March 31, 2016(Rs. Cr) (Long Term )
Included in TRDCL Loan Above Included in IRIDCL loan above 3437
GRANT (Rs. Cr) 119 (Award) 39 -
Appointed Date Jun -09 Financial closure pending May - 11
Expected Construction Completion Date Applied for COD - May-2016
Concession Period 15 years after completion of each phase 30 Years 20 years
Description Thiruvananthapuram City Roads Improvement Project
Four laning of existing two lane sectionon the Beawar Gomti section of NationalHighway No.8 in Rajasthan
4 Lanning of Chenani to Nashri section of NH-1A including 9 Km long tunnel on DBFOT (Annuity) basis in Jammu and Kashmir
27
Name of Project Kiratpur Ner Chowk (KNEL) Barwa Adda Panagarh
Authority NHAI NHAI
State Himachal Pradesh Jharkhand &West Bengal
BOT Type Toll Toll
Project (Lane Km) 327 727
Project Cost (Rs Cr) 2291 2452
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
895 438
GRANT (Rs. Cr) 135 42 (Premium)
Appointed Date Nov-2013 April-2014
Expected Construction Completion Date Nov-2016 Sep-2016
Concession Period 28 20 Years
Description Four laning of Kiratpur-NerChowk section of NH 21 in Himachal Pradesh on BOT (Toll)
Six-Laning of Barwa-Adda-Panagarh Section of NH-2including Panagarh Bypass in the States of Jharkhand and West Bengal.
Project Under Construction
28
Name of Project Khed Sinnar Mega Highways Project, Rajasthan (RIDCOR) III Srinagar Sonmarg Tunnelway Limited
Authority NHAI Govt. of Rajasthan BRO
State Maharashtra Rajasthan Jammu & Kashmir
BOT Type Toll Toll Annuity
Project (Lane Km) 557 366 34
Project Cost (Rs Cr) 2015 449 3289
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
385 324 95
GRANT (Rs. Cr) 297 127 (Interest Free Loan from GOR) -
Appointed Date Feb-2014 Jan -2012 -
Expected Construction Completion Date Aug 2016 June- 2016 -
Concession Period 20 32 20
Description Four-Laning of Khed -Sinnar Section of NH-50 from 42.000 km to 177.000 km in the State of Maharashtra under NHDP Phase IV B on DBFOT Basis
Improvement of following project road stretches aggregating 182.82 km -Mathura (UP border) to Bhadoti and Rawatsar to Bhadra on BOT (Toll) Basis
Construction, Operation and Maintenance of Z-Morh including approaches tunnel on National Highway No. 1 (Srinagar SonmargGumri Road) in the State of J&K
Project Under Construction
29
Name of Project.GRICL Rail Bridge Development
Company Ltd. (GRBDCL)Fagne – Gujarat / Maharashtra
Border Amravati – Chikhli RRR Section 2
Authority Government of Gujarat NHAI NHAI GoJ
State Gujarat Maharashtra Maharashtra Jharkhand
BOT Type Annuity Toll Toll Annuity
Project (Lane Km) 26 698 963 141
Project Cost (Rs Cr) 251 1886 2288 588
Debt Outstanding as at March 31, 2016 (Rs. Cr) (Long Term )
Financial Close yet to be achieved Financial Close yet to be achieved Financial Close yet to be achieved Financial Close yet to be achieved
GRANT (Rs. Cr) Nil 245 183 Nil
Appointed Date - - - -
Expected Construction Completion Date
- - - -
Concession Period 17.5 19 19 17.5
Description Development of ROBs in Lieu of Level Crossings Having TVU>100000 in State of Gujarat on Cost Sharing Basis Through Concession on BOT Annuity Basis.
Four-laning of Fagne – Gujarat / Maharashtra Border (Package -III) section of NH-6 in the State of Maharashtra from kilometer510.000 to kilometer 650.794
Four-laning of Amravati - Chikhli(Package - I) section of NH-6 in the State of Maharashtra from Kilometer 166.000 to Kilometer360.000.
Six laning of Ranchi Ring Road, Section VII from Kathitanr to Karma comprising of 23.575 Kms.
Project Development
30
Glossary
Acronym Full Form
IL&FS Infrastructure Leasing and Financial Services
ITNL IL&FS Transportation Networks Limited
SPV Special Purpose Vehicle
BOT Build Operate Transfer
HUDA Haryana Urban Development Authority
COD Commercial Operation Date
NHDP National Highway Development Plan
SARDP Special Accelerated Development Programme
RFP Request for Proposal
RFQ Request for Qualification
NHAI National Highway Authority of India
MoRTH Ministry of Road Transport and Highways
PSRDCL Pune Sholapur Road Development Company Limited
MBEL Moradabad Bareilly Expressway Limited
NAMEL Narketpally Addanki Medermetala Expressway Limited
JSEL Jorabat Shillong Expressway Limited
RMGL Rapid MetroRail Gurgaon Limited
RMGSL Rapid MetroRail Gurgaon South Limited31
GlossaryAcronym Full Form
JARDP/JRPICL Jharkhand Accelerated Road Development Programme / Jharkhand Road Projects Implementation Company Limited
RPR II (Part of JRPICL I) Patratu Dam – Ramgarh Road
CKC (Part of JRPICL II) Chaibasa Kandra Chowka Road
CNTL Chenani Nashri Tunnelway Limited
WCBTRL Warora Chandrapur Ballarpur Toll Road Limited
TRDCL Thiruvananthapuram Road Development Company Limited
MPBCDCL Madhya Pradesh Border Checkpost Development Company Limited
RIDCOR Road Infrastructure Development Company of Rajasthan Limited
JU (Part of RIDCOR II) Jhalawar to Ujjain
RB / MB (Part of RIDCOR III) Rawatsar – Nohar – Bhadra Road / Mathura (UP Border) – Bhadoti Road
BKEL Baleshwar Kharagpur Expressway Limited
SBHL Sikar Bikaner Highway Limited
KNC Kiratpur Ner Chowk Expressway Limited
BAEL Barwa Adda Expressway Limited
KSEL Khed Sinnar Expressway Limited
K-SHIP Karanatka State Highway Improvement Project
EBITDA Earning Before Interest, Tax, Depreciation & Amortization32
GlossaryAcronym Full Form
NKEL North Karnataka Expressway Limited
APEL Andhra Pradesh Expressway Limited
HREL Hazirabagh Ranchi Expressway Limited
EHEL East Hyderabad Expressway Limited
GRICL Gujarat Road and Infrastructure Company Limited
WGEL West Gujarat Expressway Limited
NTBCL NoidaToll Bridge Company Limited
IRIDCL ITNL Road Infrastructure Development Company Limited
VNIL Vansh Nimay Infraprojects Limited
IRL IL&FS Rail Limited
SSTL Srinagar Sonmarg Tunnelway Limited
IRIT ITNL Road InvestmentTrust
IOPL ITNL Offshore Private Limited
ROE PAT / Average Net worth
ROCE EBIT / Average Capital Employed
EBITDA Total Revenue+ Other Income – Operating Expense
Capital Employed Networth + long term borrowings + Current Maturities of long term debt + short term borrowings
Networth Shareholder’s Fund ( as per financial)33
Thank You
IL&FS Transportation Networks LimitedThe IL&FS Financial CentreC-22, G Block, Bandra Kurla ComplexBandra (East), Mumbai – 400 051
Board: +91 22 2653 3333Fax: +91 22 2652 3979Email: [email protected]